Huobi Invests $ 10M to Support the Development of the Filecoin EcosystemHuobi Group has announced the launch of a $ 10M incubator fund to support the development of the Filecoin ecosystem. The program is being conducted in collaboration with the creator of the Protocol Labs project.

Huobi Invests $ 10M to Support the Development of the Filecoin Ecosystem

Huobi Group has announced the launch of a $ 10 million incubator fund to support the development of the Filecoin ecosystem. The program is carried out in collaboration with the creator of the Protocol Labs project.

The funds from the fund will be used to fund promising developers, advance academic research, and develop the ecosystem. Protocol Labs will provide technical support to participants in related initiatives.

«Huobi and Protocol Labs are confident that IPFS and Filecoin will be the backbone of the next generation internet and will create a safer and more accessible system for data distribution and storage – the most valuable asset in the 21st century», – said in a press release.

The incubator will be led by Charlene Wu, Huobi's Decentralized Business Leader.

In August, Huobi announced the launch of a fund with assets on «tens of millions of dollars» for investments in the space of centralized finance (DeFi).

«Huobi believes that, like decentralized finance, decentralized storage solutions such as Filecoin will lead a new wave of revolution in the blockchain space and provide more innovative opportunities for developers.», – adds Huobi.

 

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